E7-4A. The following amounts summarize Anderson Company's merchandising activities during 2022. Set up T accounts for Merchandise Inventory and Cost of Goods Sold. Then record the activities directly in the T accounts and calculate the account balances. Cost of merchandise sold to customers in sales transactions $360,000 Invoice cost of merchandise purchases 372,000 Merchandise Inventory balance, December 31, 2021 70,000 Purchases returns and allowances received 8,200 Purchase discounts received 3,200 Cost of merchandise returned by customers and restored to inventory 2,200 Cost of transportation 3,800 Finding account balances using T accounts (15 min)